It has been a mixed day for the cryptocurrency industry. With Bitcoin above $ 47K, Dogecoin appreciated by 10.8%, while MATIC only posted minor gains of 1.5% after breaking the $ 1.51 resistance. By contrast, XRP declined slightly on the charts, despite holding at a multi-month high of $ 1.29,
MATIC was valued at $ 1.53 at press time. The alt pushed north from the $ 1.36 support, where it traded for the past few days, and knocked down the $ 1.51 resistance. If prices hold at this current level, MATIC could test a resistance at $ 1.56.
MATIC’s four-hour chart showed mixed signals when MACD shows red bars on the histogram. The indicator also showed a bearish divergence from the alt price, which signifies possibilities for a price correction. If prices recede, the alt could rest at the $ 1.36 support line.
Conversely, Awesome oscillator had green signal bars indicating a bullish move, along with a rally seen in the Relative Strength Index.
The XRP coin saw a slight decline of 1.0% in the last 24 hours. Prices last touched the current level on May 19, after which, the coin fell back to the support level of $ 1.22. A similar outcome awaited XRP if the bears take over the market.
Techniques for XRP emanated bullish signals such as the Awesome oscillator Red signal bars were observed indicating a bearish movement. Bollinger Bands diverged greatly, indicating great potential for increased market volatility.
Relative Strength Index traded in overbought territory, which could trigger a price reversal.
Dogecoin spiked 10.8% with prices at $ 0.338, moving away from its $ 0.273 support level, the alternative was seen looking at its immediate resistance at $ 0.344. DOGE’s technical analysis was bullish in nature.
Awesome oscillator pointed to amplified green signal bars which resulted in upward pressure in the market. Chaikin money flowDespite noticing a small decrease in capital inflows, it was observed well above the midline within bullish territory.
Relative Strength Index it was photographed over overbought territory with the possibility of a pullback. In such a case, Dogecoin could trade around the $ 0.314 support level.
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